Inmarsat talks $1.13 billion of senior secured notes due 2026 at low-to-mid 6% area

By Cristal Cody

Tupelo, Miss., Sept. 13 – Inmarsat plc (Ba2/BB) is expected to price $1,125,000,000 of senior secured notes due 2026 in the week ahead, according to a market source on Friday.

Initial price talk is in the low-to-mid 6% area.

BofA Securities, Inc. is the bookrunner.

The notes are being issued as part of a debt financing plan that includes $3.3 billion of credit facilities to fund the company’s acquisition by a consortium that includes Apax, Warburg Pincus, Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board.

Inmarsat is a satellite telecommunications company based in London.

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